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the bottom line, charts aren't more powerful than the fiscal cliff, while we wait for washington to finish its game of deal or no deal, this market has hurdle jumping to do. if the s & p can break out above 1446, the pullback can be overcome and the entire market could levitate. that's what we need to see to get charts on our side, or brodin's version of them. i'm with her. cautious, wary, but opportunistic, all the same. after the break, i'll try to make you more money. >> coming up, last minute shopping? after almost doubling this year, shares of the gap have gapped down. for this mega name clothing retailer, now be gift wrapped just for you, or will cliff worries about locking in gains for the year soon make it come apart at the seams? cramer trying it on, just ahead. >>> and, later, engine of growth? the power outages that followed superstorm sandy gave many homeowners a wakeup call. as the rebuild continues, could an investment in engine company briggs & stratton plug you into a strong trend? cramer is speaking to the ceo to find out. all coming up on "mad money." >>> as we approach t
the bottom line, charts aren't more powerful than the fiscal cliff, while we wait for washington to finish its game of deal or no deal, this market has hurdle jumping to do. if the s & p can break out above 1446, the pullback can be overcome and the entire market could levitate. that's what we need to see to get charts on our side, or brodin's version of them. i'm with her. cautious, wary, but opportunistic, all the same. after the break, i'll try to make you more money. >> coming up,...
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. >>> finally, there may be gridlock in washington over the fiscal cliff but members of parliament in the ukraine spent the first two days of the parliamentary session literally fistfighting over the election of parliamentary officials. this was the scene from today. anyway, yesterday's session was suspended due to a similar brawl with one man having his ear torn. the election did wind up happening today. ukrainian law dictate that is the police cannot intervene in parliamentary fights. the members can't be punished for what they do in them. i guess that explains that. >>> up next, chris christie versus hillary clinton in '26? wishful thinking for all of us political junkies. what a match-up that would be. you're watching "hardball," the place for politics. anncr: some politicians seem to think medicare and... social security are just numbers in a budget. well, we worked hard for those benefits. we earned them. and if washington tries to cram decisions about the future... of these programs into a last minute budget deal... we'll all pay the price. aarp is fighting to protect seniors w
. >>> finally, there may be gridlock in washington over the fiscal cliff but members of parliament in the ukraine spent the first two days of the parliamentary session literally fistfighting over the election of parliamentary officials. this was the scene from today. anyway, yesterday's session was suspended due to a similar brawl with one man having his ear torn. the election did wind up happening today. ukrainian law dictate that is the police cannot intervene in parliamentary...
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>>> and we're talking real estate and the fiscal cliff with dolly lens. but first, let's get straight to our top story, and that is the haggling in washington, d.c. president obama's meeting with house speaker john boehner this hour. john, what should we expect? >> we expect the meeting to last something less than an hour between the speaker and the president of the united states. a republican leadership aide told me the meeting is taking place because a shakeup is required in budget talks, given the inflexibility of the white house. question is going to be, what is that shakeup? the speaker wants and republicans have been the demanding more details from the white house on potential cuts and entitlement programs. the white house has shown no willingness to go further than they've already gone and they are winning this argument in terms of public opinion. so, another possibility for a shakeup is for republicans to some how give ground and we'll see whether that happens on decoupling top tax rates, 98% of american families. we're going to have to see what h
>>> and we're talking real estate and the fiscal cliff with dolly lens. but first, let's get straight to our top story, and that is the haggling in washington, d.c. president obama's meeting with house speaker john boehner this hour. john, what should we expect? >> we expect the meeting to last something less than an hour between the speaker and the president of the united states. a republican leadership aide told me the meeting is taking place because a shakeup is required in...
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symptoms rather than disease, and we need to avoid the fiscal cliff, but we need to recognize reality that there's only so much that can be done in the remaining year. we have to do an incredible down payment, build a bridge to a grand bargain, building on reforms that have to be achieved. in position of budget controls, had budget controls until 2002, expired in the end of 2002, and been out of control ever seasons. it takes time, and it has to involve extraordinary potential leadership, which we have not had in quite a while, and hopefully we'll get, and frankly, it was terrible on the issues as well, and it's going to involve some type of citizen engagement effort to be able to demonstrate people are willing, ready, and able to handle the tough choices, and it's going to take, obviously, the committee doing their job in private negotiations. the good news in that regard is i recently undertook a 10,000-mile, 23-day, 27-state national fiscal responsibility bus tour around focusing on swing states, and a representative group of voters after they heard the case about where we are. num
symptoms rather than disease, and we need to avoid the fiscal cliff, but we need to recognize reality that there's only so much that can be done in the remaining year. we have to do an incredible down payment, build a bridge to a grand bargain, building on reforms that have to be achieved. in position of budget controls, had budget controls until 2002, expired in the end of 2002, and been out of control ever seasons. it takes time, and it has to involve extraordinary potential leadership, which...
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hate to be such a short-term trader, because i'm not, but we're hanging on every word out of washington so give me your long-term expectations as well. >> i think the economy is doing quite well, you know, despite the fiscal cliff, and even thought the worries about taxes are affecting investors, they are not really affecting general economic activity, so the good news is the economy's got some sort of head of steam going, so from that perspective if they can do a deal relatively quickly, thin think we're in good shape. >> come on, if you look at the of a dense measures, they are turning down and measures of durable good orders, turning down. our question is housing and recoveries and they account for almost 80% of the economy. you're right, the capital goods orders are hurting, mostly because businesses are uncertain, i agree but general consumer spending, confidence aside. consumers are spending. that's the good news. >> the good news is they are not focused on the fiscal cliff the way businesses are, but at some point everything comes home to roost. sentiment is up, spending is up, b
hate to be such a short-term trader, because i'm not, but we're hanging on every word out of washington so give me your long-term expectations as well. >> i think the economy is doing quite well, you know, despite the fiscal cliff, and even thought the worries about taxes are affecting investors, they are not really affecting general economic activity, so the good news is the economy's got some sort of head of steam going, so from that perspective if they can do a deal relatively quickly,...
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cliff. and with 12 days to christmas, boehner has had his 12 drummers drumming to the beat of spending is the problem. boehner started the day with a chart prepared by drummer boy paul ryan and after taking the serious step of launching a twitter hash tag, he declared that the president is not serious about the debt. >> here we are at the 11th hour and the president still isn't serious about dealing with this issue right here. it's this issue, spending. >> are you feeling the christmas spirit yet? well, despite the strife, the president's kept his holiday cheer. >> how are you feeling about a deal? optimistic? >> it's a work in progress. >> speaker boehner says he's waiting to hear more from you, sir. >> merry christmas. >> we sure hope so, mr. president. let's see what can be done about it. let's bring in our panel here in new york. ken vogel, chief investigative reporter for politico and william cohen author of "money and power." and nbc's mike viqueira. mike, you are there on the hill for
cliff. and with 12 days to christmas, boehner has had his 12 drummers drumming to the beat of spending is the problem. boehner started the day with a chart prepared by drummer boy paul ryan and after taking the serious step of launching a twitter hash tag, he declared that the president is not serious about the debt. >> here we are at the 11th hour and the president still isn't serious about dealing with this issue right here. it's this issue, spending. >> are you feeling the...
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how will washington break the fiscal cliff stalemate? if they do, joining us from capitol hill, maxine waters, democrat from california. soon to be the ranking member of the house committee on fanl services. she will be succeeding representative barney frank as ranking member there as he retires. ms. waters, good to have you with us. >> thank you. delighted. >> i with a just asking aemon if he thought that tenor of the negotiations darkened over the last 48 hours with regard to the fiscal cliff. do you agree with that? >> i don't know. but i do know we haven't made any progress. from time to time, we've heard encouraging words but then the next day when it is time to report out what happened, nothing has happened. it does not appear that there have been any changeets, any progress has been made. so, as is being said, a moment ago. members of congress are prepared to be here during christmas holidays if we have to. >> when members go home for the weekend, back to their district, many traveling at taxpayer expense during this kind of envir
how will washington break the fiscal cliff stalemate? if they do, joining us from capitol hill, maxine waters, democrat from california. soon to be the ranking member of the house committee on fanl services. she will be succeeding representative barney frank as ranking member there as he retires. ms. waters, good to have you with us. >> thank you. delighted. >> i with a just asking aemon if he thought that tenor of the negotiations darkened over the last 48 hours with regard to the...
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tracy: talks in washington seem to be going nowhere, so is it too late to avoid going over the fiscal cliff? making waves by saying the house should pass tax cut for middle income americans and to do it now. he joins us now. you also said we should let the tax cuts expire on the wealthiest 2%. 250,000 end up. >> that is not quite what i said, tracy. what i said was let's take the parts of the deal we agree with. let's continue to fight on that issue, the speaker has put forth a proposal keeping tax rates constant but generate additional revenue. if i can get 80% of the bush tax cut for 98% of the american people made permanent, which we could not do that in the bush era, i will do that. it would help ease a lot of concerns and would move us to where we are, talking about spending and entitlement reform. tracy: we can't possibly push the tax cuts through without spending on the other side. you are a former history professor, history has shown us this does not work. >> i'm also a small-business owner and investor. again, sometimes make deals and pieces, no need to fight over this, take
tracy: talks in washington seem to be going nowhere, so is it too late to avoid going over the fiscal cliff? making waves by saying the house should pass tax cut for middle income americans and to do it now. he joins us now. you also said we should let the tax cuts expire on the wealthiest 2%. 250,000 end up. >> that is not quite what i said, tracy. what i said was let's take the parts of the deal we agree with. let's continue to fight on that issue, the speaker has put forth a proposal...
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long term for us as a decade. >> let me ask you about the fiscal cliff. certainly a topic we've been speaking about on a daily basis and many times during the day. we've just gotten comments yet again from mr. boehner and reid in washington. do you think that's having any impact on the type of people who buy your products? >> you know, i think any time when there's a lot of talk about what the future may hold for government, for taxation, for financing, that's going to give some people some trepidation about spending. if there's word about the fact that you are going to have higher taxes come the new year, won't have as much to spend, maybe you hold back a little bit. what we like about our business is, it's a relatively low barriers to entry. consumers can buy the luxury of our beauty for $17, $18, $25, $30. this is not a huge investment. and so we're finding a lot of consumers are finding their way into beauty because they don't want to spend $1,000, $2,000 or $3,000 on very luxurious, larger items like a handbag or a new car, for example. so beauty has
long term for us as a decade. >> let me ask you about the fiscal cliff. certainly a topic we've been speaking about on a daily basis and many times during the day. we've just gotten comments yet again from mr. boehner and reid in washington. do you think that's having any impact on the type of people who buy your products? >> you know, i think any time when there's a lot of talk about what the future may hold for government, for taxation, for financing, that's going to give some...
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as we debate various strategies for avoiding the fiscal cliff, it's important for us to remember that our actions, or inactions, will have real-world consequences for millions of americans. many folks near washington seem too casual about the possibility of a massive tax hike and what that would do to our economy. indeed, some of my democratic colleagues apparently think they could quickly undo all of the tax increases that would fall on middle-class workers. in reality, it would not be that simple. just ask any small business owner trying to meet payroll and plan for the future. everyone knows, as i said to start with, that we are experiencing the weakest economic recovery since world war ii and the longest period of high unemployment since the great depression. if you ask me, this is the worst possible moment for a huge tax hike, something the president himself acknowledged when he extended -- agreed to extend the so-called bush tax cuts in 2010, when the economy was growing slower than it is today. and too many of my colleagues across the aisle seem to be comfortable with threateni
as we debate various strategies for avoiding the fiscal cliff, it's important for us to remember that our actions, or inactions, will have real-world consequences for millions of americans. many folks near washington seem too casual about the possibility of a massive tax hike and what that would do to our economy. indeed, some of my democratic colleagues apparently think they could quickly undo all of the tax increases that would fall on middle-class workers. in reality, it would not be that...
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cliff negotiations in washington, d.c. nbc's mike viqueira is standing by on capitol hill. mike, i guess the big head line to come out of this other than the old christmas adage about the ifs, ands, buts, is the fact it's tied mainly to negotiation? >> yeah, if you spend any time around here, andy, two things are going to happen to you as a reporter, you're going to be insulted by john boehner, and you're going to hear him say ifs ands and buts were nuts -- would you put something on the floor that didn't have a majority of republicans to vote for? that really is a threshold question. what he's asking, would you allow a vote on allowing those tax rates for the richest mer e americans to go up, would you allow the house of representatives to vote on it? hedging response from speaker john boehner which is in itself interesting. basically what we have here, back to square one. there's no visible movement. i'm told over the course of yesterday there were no phone calls. whatever meetings or conversations took place, it went ab
cliff negotiations in washington, d.c. nbc's mike viqueira is standing by on capitol hill. mike, i guess the big head line to come out of this other than the old christmas adage about the ifs, ands, buts, is the fact it's tied mainly to negotiation? >> yeah, if you spend any time around here, andy, two things are going to happen to you as a reporter, you're going to be insulted by john boehner, and you're going to hear him say ifs ands and buts were nuts -- would you put something on the...
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all investors certainly focusing on the fiscal cliff once again, and getting that solved in washington. that's the latest here at the new york stock exchange. phil, what's going on in chicago? >> gasoline prices down again today, and they should be. why? the united states produced the most energy last year ever in history. that's right, 78 quad drillon uses of energy. no kidding about it. when we look at what's happening in the energy complex today, a lot has to do with the fiscal cliff. you know, we saw the big builds in gasoline supplies over the last couple weeks and refining mar gyps cut in half. we have problems on the side where the supplies are tight, and the question for this market over the long term is how quickly refinders can flip to the other side. the other big news, of course, looking at aaa today, they say that holiday gasoline demand is 1.6% above a year ago. talk metals with that, always shimmering, sandra smith. >> thank you for that intrough, mr. phil. look at this, guys, messing with the charts here, a six-month chart, silver and gold. the gold line here, and silve
all investors certainly focusing on the fiscal cliff once again, and getting that solved in washington. that's the latest here at the new york stock exchange. phil, what's going on in chicago? >> gasoline prices down again today, and they should be. why? the united states produced the most energy last year ever in history. that's right, 78 quad drillon uses of energy. no kidding about it. when we look at what's happening in the energy complex today, a lot has to do with the fiscal cliff....
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would not be so stupid as to let this fall through, go off the fiscal cliff. bottom line we expect the speaker to hammer away on too much spending. washington has a spending problem, a familiar theme in all these talks, jenna. jenna: we'll take the viewers back there when bain starts to speak. mike, thank you. >> reporter: thank you. jon: wouldn't it be nice if he could talk about some progress. joining us with more on this, kimberly strassel, a columnist for "the wall street journal" as michael lewded to, they have about what, 72 hours really to get something concrete done here? >> that's right. when you think about this, everyone talks about the january 1st deadline but reality is most people are looking at next friday as the real deadline. they're assuming that that is when the markets consider there to be a deadline. if something isn't done by then maybe panic ensues. so when you work back from that you have to leave at least a week for the republicans to put something up in the house, give those requisite three days for members to read it, for the public
would not be so stupid as to let this fall through, go off the fiscal cliff. bottom line we expect the speaker to hammer away on too much spending. washington has a spending problem, a familiar theme in all these talks, jenna. jenna: we'll take the viewers back there when bain starts to speak. mike, thank you. >> reporter: thank you. jon: wouldn't it be nice if he could talk about some progress. joining us with more on this, kimberly strassel, a columnist for "the wall street...
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about the fiscal cliff negotiations. host: and here on "washington journal," we are going to continue our look that we've done over the last couple of weeks at the so-called fiscal cliff and its impact on taxes and spending and some other issues. and today we're focusing on the issue of medicare, and our guest is mary agnus carey, senior health care correspondent for the kaiser health care news. mary agnus, just as a reminder for our viewers, how is medicare funded? guest: well, medicare has part a is funded by payroll taxes, gets taken out of their checks. part b and d. part b is your outpatient service and part d is prescription drugs and it's funded by yn revenue. host: is it self-sustaining? does it pay for itself? guest: in the sense general revenues pays for it, its needs are met and then the medicare trustees says the program is funded through 2024 in part because of the reductions in the health care law to providers and here we're talking about the part a trust fund. as we know 50 million people rely on this prog
about the fiscal cliff negotiations. host: and here on "washington journal," we are going to continue our look that we've done over the last couple of weeks at the so-called fiscal cliff and its impact on taxes and spending and some other issues. and today we're focusing on the issue of medicare, and our guest is mary agnus carey, senior health care correspondent for the kaiser health care news. mary agnus, just as a reminder for our viewers, how is medicare funded? guest: well,...
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no, this is not from washington, d.c. and the fiscal cliff negotiations. this is members of the ukraine parliament. they're fighting again for the second day in a row. supporters and opponents of the president squared off in the chamber. tensions having running high since the close election back in october. we'll come back to "cbs this morning." there's something about men in suits, fighting. either funny or either unbecoming. can't decide which. >> maybe that's what we need. >> i think so. >> we now know the name of the man who opened fire tuesday in an oregon mall. police say 22-year-old jake roberts stole the rifle he used to kill two people and himself. but they don't yet understand why he did it. don black stone -- john blackst at the clackamas town center. >> reporter: with two dead and up with more seriously wounded there's a realization it could have been much worse. the gunman came loaded with enough ammunition for a slaughter. but why he did it remains a mystery to his friends. on his facebook page, roberts can be seen smiling and happy and that'
no, this is not from washington, d.c. and the fiscal cliff negotiations. this is members of the ukraine parliament. they're fighting again for the second day in a row. supporters and opponents of the president squared off in the chamber. tensions having running high since the close election back in october. we'll come back to "cbs this morning." there's something about men in suits, fighting. either funny or either unbecoming. can't decide which. >> maybe that's what we need....
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nancy pelosi is talking to the media regarding the fiscal cliff. we will see if the democrats tone has changed when i see you next. live in washington. ktvu news channel 26789. >> the google chairman said he is proud of the company's tax structure despite criticism from european governments. he said they pay a lot of taxes. he added that taking steps that are legal to cut the amount paid is just good business. they paid two billion dollars in taxes worldwide last year. they shared some to a shell company in bermuda. >> we want to warn you about the graphic nature of this next story. a fort worth texas area man is jailed on half a million dollars bond suspected of carving a pent gram on his son's back. >> i put a pentagram on my son? >> on your son? >> yes. >> why? >> because it's a holy day. >> reporter: on 121212 yesterday investigators say the 39-year-old attacked his 6-year- old son with a box cutter. his wife then ran for help. the child spent the night in the hospital and is expected to recover at least physically, his wound was not deep enoug
nancy pelosi is talking to the media regarding the fiscal cliff. we will see if the democrats tone has changed when i see you next. live in washington. ktvu news channel 26789. >> the google chairman said he is proud of the company's tax structure despite criticism from european governments. he said they pay a lot of taxes. he added that taking steps that are legal to cut the amount paid is just good business. they paid two billion dollars in taxes worldwide last year. they shared some to...
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>> what's at issue here in the fiscal cliff negotiations is simply the size of government. how big is it going to get? and below that, whether the government is going to lead the economy or the private sector is going to lead the economy for a generation. the second big issue is the safety net, the so-called idea of preserving the safety net. is this going to become the most important thing we do in america, as in europe, or is america about something bigger and better and more interesting than simply preserving the safety net? >> or even defining the safety net. when i think of a safety net, i think of a high wire and think of the net underneath. what's supposed to happen is you fall and it bounces and lifts you back. i feel like we have a fishing net here, where people get caught in it and stay in it forever. that's the difference between the safety net and the fishing net that we're ending up with right now. >> we end up having to work, go to work every day and pay taxes ultimately simply to protect this safety net, rather than create a vibrant growing economy that will
>> what's at issue here in the fiscal cliff negotiations is simply the size of government. how big is it going to get? and below that, whether the government is going to lead the economy or the private sector is going to lead the economy for a generation. the second big issue is the safety net, the so-called idea of preserving the safety net. is this going to become the most important thing we do in america, as in europe, or is america about something bigger and better and more...
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yesterday federal reserve chair ben bernanke chastised washington saying the fiscal cliff is already bringing damage to americans. >> why is it that small business confidence dropped so sharply? why are the markets so volatile, even though we've not nn reached the point of the fiscal cliff potentially kicking in, it's already affecting business investment and hiring decision business creating uncertainty or creating pessimism. >> washington, wake up. you're hearing from bernanke, you're hearing from the american people. just get this done. finally, the president faced foreign policy flare-ups around the world this year. its aftermath eroded confidence in obama's overall foreign policy rating. public approval for the president has bounced back to pre-benghazi levels. 52% approve, 40% disapprove. his potential pick for secretary of state, she is taking on water. u.n. ambassador susan rice's personal rating upside down. first time we've ever tested her. a third of the voters say they don't know who she is. that's amazing that only a third of voters doesn't know who she is. among those w
yesterday federal reserve chair ben bernanke chastised washington saying the fiscal cliff is already bringing damage to americans. >> why is it that small business confidence dropped so sharply? why are the markets so volatile, even though we've not nn reached the point of the fiscal cliff potentially kicking in, it's already affecting business investment and hiring decision business creating uncertainty or creating pessimism. >> washington, wake up. you're hearing from bernanke,...
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this is the house minority leader nancy pelosi talking about the fiscal cliff with the possibility of not going over that. we have a new poll that is showing americans serious lie losing faith in the federal government. 7% think things are working pretty well in washington. 26% say just okay. a whooping 65% believe the government is just plain broke broken. say good morning to bret baier. we were talking to senator john thune about an hour ago. i know these guys are negotiating publicly, but i get the impression from him that there is no deal, and quite likely they are nowhere close. do you think that is posturing or do you think that is the story? >> i think it's a combination, bill, to be honest with you, i think there are -- to talk to democrats they are a lot closer than republicans say they are, publicly. and privately we don't really know how close they are. we've heard behind closed doors that, you know, there are hundreds of billions of dollars apart and there are some major differences. some say that they can bridge that divide before the deadline, others say it's really goin
this is the house minority leader nancy pelosi talking about the fiscal cliff with the possibility of not going over that. we have a new poll that is showing americans serious lie losing faith in the federal government. 7% think things are working pretty well in washington. 26% say just okay. a whooping 65% believe the government is just plain broke broken. say good morning to bret baier. we were talking to senator john thune about an hour ago. i know these guys are negotiating publicly, but i...
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economy over the fiscal cliff n about an hour's time, house speaker bain letter tell us exactly where the republican party now stands. a new "wall street journal"/nbc poll shows what the public thinks. john har wood is in washington, d.c. with the details on that welcome to the program, john. i would expect that two-thirds of americans might say, the cnbc slogan goes, rice above what is interesting here, the majority of you republicans, 59% say do a deal and 61% of republicans say it is okay to raise tax on those earning more than $250,000. >> well, exactly. what we have seen is that the public has absorbed the idea that the fiscal cliff and going over it would be a very bad thing to do they are looking at what the least bad alternatives r if you look at the "wall street journal" poll, you can see that president obama has the upper harden this in defining what those alternatives -- least bad altern trip. first of all, yet of who do you trust, 38% say they trust president obama to handle the fiscal cliff. that's twice as many as, say, speaker boehner. 14% say both equally. 28% say they
economy over the fiscal cliff n about an hour's time, house speaker bain letter tell us exactly where the republican party now stands. a new "wall street journal"/nbc poll shows what the public thinks. john har wood is in washington, d.c. with the details on that welcome to the program, john. i would expect that two-thirds of americans might say, the cnbc slogan goes, rice above what is interesting here, the majority of you republicans, 59% say do a deal and 61% of republicans say it...
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. >>> and in washington, no progress on talks to avoid the fiscal cliff. house speaker john boehner says serious differences remain between him and president obama, over raising taxes and cutting spending. 14 and a fascinating historical note. ahead of mr. obama's second public inauguration, by the time it's over on january 21st, the president will have tied fdr because he'll have been sworn in four times. mr. obama will take a private oath on sunday, january 20th, as required by the constitution. the very next day, he will take it publicly. the president also took two oaths in 2009, after a flub by chief justice john roberts. >> a lot of swearing. >> yes. >> two terms, four swearing. not four terms. >>> and south korea says the satellite north korea launched is orbiting the earth normally. but whether it's functioning properly, that's another question. yesterday's launch has drawn international condemnation. the u.s. and its allies are pushing for stronger sanctions. but china, north korea's biggest supporter says, a moderation is needed to avoid further
. >>> and in washington, no progress on talks to avoid the fiscal cliff. house speaker john boehner says serious differences remain between him and president obama, over raising taxes and cutting spending. 14 and a fascinating historical note. ahead of mr. obama's second public inauguration, by the time it's over on january 21st, the president will have tied fdr because he'll have been sworn in four times. mr. obama will take a private oath on sunday, january 20th, as required by the...
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investors eyeing washington's fiscal cliff talks. it's an investment landscape full of uncertainties and fed chief ben bernanke is being crystal clear. the fed will keep interest rates low, very low, near zero, until the jobless rate falls to 6.5%. there's an inflation rate target of 2.5%. they're not going to change things. the fed downgraded its forecast for u.s. growth next year. now 2.3 to 3% and they expect the jobless rate to stay about where it is right now. ben bernanke said the fed does not have enough tools to offset the fiscal cliff, so a warning from the fed that the fiscal cliff is already hurting household confidence and business spending. >>> meantime security firm mcafee releasing a report about plans for a massive cyber attack on 30 u.s. banks. cyber criminals banding together around the world for project blitz creek targeting millions of dollars in consumers' bank accounts. they plan to use malware dying dormant in the u.s. financial system. here are a few of the banks at risk. citibank, wachovia, wells fargo, also
investors eyeing washington's fiscal cliff talks. it's an investment landscape full of uncertainties and fed chief ben bernanke is being crystal clear. the fed will keep interest rates low, very low, near zero, until the jobless rate falls to 6.5%. there's an inflation rate target of 2.5%. they're not going to change things. the fed downgraded its forecast for u.s. growth next year. now 2.3 to 3% and they expect the jobless rate to stay about where it is right now. ben bernanke said the fed...
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let's start with an update on the so called "fiscal cliff." this is the washington post -- in a side arbucarticle -- that the washington post report on the fiscal cliff this morning. here's an article from "washington times" -- now this is from "politico." a situation that was in the paper couple weeks ago. looks li finally, before we go to phone calls, this article from the daily caller -- again, that is reported in the daily caller. we begin with a call from diane in julian, california, on our democratic line. caller: good morning, peter. my prediction came true, reelecting a president. women against violence acts, being held up by the house. john boehner and the republican house majority leader eric cantor. i tweeted last night quiet late saying the republicans are going to gang up on john boehner. there is an article in the new york times showing they feel he is dragging his feet and waiting until january 3. i also understand that the chairman of the government oversight and reform committee darrell issa, which is from our district here, i
let's start with an update on the so called "fiscal cliff." this is the washington post -- in a side arbucarticle -- that the washington post report on the fiscal cliff this morning. here's an article from "washington times" -- now this is from "politico." a situation that was in the paper couple weeks ago. looks li finally, before we go to phone calls, this article from the daily caller -- again, that is reported in the daily caller. we begin with a call from...
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as the white house continue to fail at coming to a conclusion on the budget, this fiscal cliff is not waiting for the end of the year. it's affecting america today. well, even santa claus is upset. santa claus showed up on capitol hill wednesday, urging congress and the white house to strike a deal to avoid the looming fiscal cliff before christmas. >> it's discouraging that our elected leadership in congress can't come together to get the job done for the american people. >> reporter: both sides say it's putting a damper on the holidays. >> i think it's going to be extremely difficult to get it done before christmas. ? . >> in anticipation, there is no agreement. congressional leaders told lawmakers not to make holiday travel plans. >> we're going to stay here right up until christmas eve, throughout the time and period before the new year because we want to make sure that we resolve this in an acceptable way for the american people. >> president obama and house speaker john boehner continue to talk. >> but we've got serious differences. >> those differences are already affecting ame
as the white house continue to fail at coming to a conclusion on the budget, this fiscal cliff is not waiting for the end of the year. it's affecting america today. well, even santa claus is upset. santa claus showed up on capitol hill wednesday, urging congress and the white house to strike a deal to avoid the looming fiscal cliff before christmas. >> it's discouraging that our elected leadership in congress can't come together to get the job done for the american people. >>...
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i mean, the fiscal cliff we're watching very, very closely. obviously yesterday, you said it joe, yesterday's moves were exceptionally bold. the markets kind of look through them. i think the markets are trying to digest what exactly it means. and how the fed is really going to behave going forward and what the 6.5% means. we're very, very focused on these issues, too. >> you're back here in new york. so we didn't get you up at 5:00 in the morning. all right. neel, thank you. >> thanks very much. >> we'll see you. >> coming up, gm set to unveil two new pickup trucks. cnbc's phil lebeau going to join us next with president of gm north america. and at the bottom of the hour, the government's latest read on employment, inflation, and the consumer. we're going to get jobless claims, ppi and retail sales numbers. well, having a ton of locations doesn't hurt. and a santa to boot! [ chuckles ] right, baby. oh, sir. that is a customer. oh...sorry about that. [ male announcer ] break from the holiday stress. fedex office. [ male announcer ] i have obli
i mean, the fiscal cliff we're watching very, very closely. obviously yesterday, you said it joe, yesterday's moves were exceptionally bold. the markets kind of look through them. i think the markets are trying to digest what exactly it means. and how the fed is really going to behave going forward and what the 6.5% means. we're very, very focused on these issues, too. >> you're back here in new york. so we didn't get you up at 5:00 in the morning. all right. neel, thank you. >>...
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. >> nearing the edge washington still want seem to agree on a deal to avoid that fiscal cliff. were voters optimistic lawmakers will come through on this one? doug luzader has the brand new fox poll from washington. good morning. >> good morning. the clock isic itting. will there be an agreement. 51 percent of registered voters in the fox news poll say there will be an agreement between the president and congress to avert the fiscal cliff before the end of the year. a tiny majority. start with the white house position that taxes on wealthy must go up and republicans plan to give tax breaks just won't fly. here is jay carney. >> it is not a plausible position as jason fuhrman made clear to you last week to say we can somehow magically achieve significant revenue p on the order that we need for that balance reduction package simply by closing loopholes they will not name or capping deductions they will not specify sometime in the future. that is -- those magic beans are just beans. that fair redust is just dust. it isn't. >>> here's what the fox news polls show us. can raising ta
. >> nearing the edge washington still want seem to agree on a deal to avoid that fiscal cliff. were voters optimistic lawmakers will come through on this one? doug luzader has the brand new fox poll from washington. good morning. >> good morning. the clock isic itting. will there be an agreement. 51 percent of registered voters in the fox news poll say there will be an agreement between the president and congress to avert the fiscal cliff before the end of the year. a tiny...
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to reach a deal to avoid the fiscal cliff. house speaker john boehner is telling republicans that talks to run through the holidays and not to make any christmas plans. 75% of americans would accept raising taxes on the wealthy as president obama is demanding. if the u.s. does go over the fiscal cliff, more would blame republicans than the president, although 56% say they would equally apportion the blame. >>> let's take a quick look at what's on the agenda for the u.s. jobly claims are expected to show a small gain. retail sales and prices. the core scloeding autos slightly lower on the month. producer prices are seen falling .5%. for the core there, inching up when you exclude food and energy. at 10:00 a.m., we include business inventories. plenty to keep investors butsy today. and the results of italy's latest debt auction are due next. just how confident are investors? we'll find out when we come back. and we can save you 10% on ground shipping over the ups store. look this isn't my first christmas. these deals all sgreaat
to reach a deal to avoid the fiscal cliff. house speaker john boehner is telling republicans that talks to run through the holidays and not to make any christmas plans. 75% of americans would accept raising taxes on the wealthy as president obama is demanding. if the u.s. does go over the fiscal cliff, more would blame republicans than the president, although 56% say they would equally apportion the blame. >>> let's take a quick look at what's on the agenda for the u.s. jobly claims...
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cliff debate in washington is it is still on the turf of the right-wing, the deficit cutters, what we really need is a debate about how we create investments -- the incentives for job growth. we still have the lowest level of wages to gdp since the great depression. unless we have a jobs program, energy efficiencies investments in improving our electrical grid, unless we put people to work in this country, we are not ever going to close the deficit. i would say let's raise those income taxes on the highest earners, but couple it with a jobs program. >> jennifer: which is what he has tried to do by insisting on a $50 million surplus for infrastructure. fiscal cliff discussions are obviously continuing and the white house has lowered the amount of new revenue it is seeking from $1.6 trillion to $1.4 trillion. i want to have you listen to a sound bite from speaker boehner. >> listen we have been reasonable and responsible in our approach to this and we're going to continue to do that. it's time for the president to do his part. >> jennifer: i don't know if you can hear that. >> i heard i
cliff debate in washington is it is still on the turf of the right-wing, the deficit cutters, what we really need is a debate about how we create investments -- the incentives for job growth. we still have the lowest level of wages to gdp since the great depression. unless we have a jobs program, energy efficiencies investments in improving our electrical grid, unless we put people to work in this country, we are not ever going to close the deficit. i would say let's raise those income taxes on...
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let's assume we go through the fiscal cliff, immigration, corporate tax reform, and investments. immigration, you are not going to do just a dream act, but you have to do a comprehensive immigration or you don't. george bush, john mccain, ted kennedy. then they decided to sabotage it. republicans of learned a lesson this time, but i'm not sure how much. corporate tax reform, i covered the 1985-1986 act. that was financed through corporate tax increase. they had the most skillful treasury secretary. people on both sides willing to work with the white house and congress. third, when you talk about infrastructure spending, investments, and things we done with n.i.h and national science foundation, all the talk now is about debt. so how do you do what they envisioned? >> once we get over the fiscal cliff we will have the discussion on the debt ceiling again in january. >> story. >> so we're not calling to get away from somewhat of a doomsday scenario for quite some time, which would allow his position. but i do think it is important, because the priorities that glenn outlined are not
let's assume we go through the fiscal cliff, immigration, corporate tax reform, and investments. immigration, you are not going to do just a dream act, but you have to do a comprehensive immigration or you don't. george bush, john mccain, ted kennedy. then they decided to sabotage it. republicans of learned a lesson this time, but i'm not sure how much. corporate tax reform, i covered the 1985-1986 act. that was financed through corporate tax increase. they had the most skillful treasury...
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-- from the president on down, everybody has known about the fiscal cliff. they had the super committee that was supposed to decide by november or december of last year. the super committee wasn't able to reach an agreement. so what did they do? stop. they didn't work the next month. there was nothing to stop the super committee or the president or leader pelosi, complaining about losing her vacation, nothing stopping anybody from doing the work. congress not only ding didn't do its work, but this august, went on vacation and campaigned, repaid the salaries for torch campaign to get the job back and then what happens now? there is whining because you can't spend the holidays with your family. i think of the families, worried about jobs. what kind of holiday are they going to have if the congress doesn't solve this? >> you can see the same frustration in new jersey, for the people waiting for the recovery efforts from fema with the trailers sitting around. the house of representatives passed the legislation that will stave off the sequestration for a full yea
-- from the president on down, everybody has known about the fiscal cliff. they had the super committee that was supposed to decide by november or december of last year. the super committee wasn't able to reach an agreement. so what did they do? stop. they didn't work the next month. there was nothing to stop the super committee or the president or leader pelosi, complaining about losing her vacation, nothing stopping anybody from doing the work. congress not only ding didn't do its work, but...
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>> especially when it comes to going over the fiscal cliff. the folks and washington. >> the part of south carolina that has been economically challenged for a while and remain so, certain parts have developed pretty strongly. but the part where i come from, mostly agricultural, they have a high foreclosure rate and people are having a very hard time. i visited there since i became chairman. the part of the reason that we are engaging in these policies is to create a strong economy and more jobs so that folks across the country, including places like the one where i grew up, they would have more opportunity to have a better life for themselves. that is extremely important, and i think it's very important that we not just look at the numbers, it's easy to look at the unemployment rate and say it is one 10th or 210 and every 10th means that every kind of person is represented. it is important to keep in mind the reality of unemployment and wage growth and et cetera. we always try to do that. it is always a delicate balance and you don't want to
>> especially when it comes to going over the fiscal cliff. the folks and washington. >> the part of south carolina that has been economically challenged for a while and remain so, certain parts have developed pretty strongly. but the part where i come from, mostly agricultural, they have a high foreclosure rate and people are having a very hard time. i visited there since i became chairman. the part of the reason that we are engaging in these policies is to create a strong economy...
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compromise that's going to allow us to avoid the fiscal cliff? and if that's true, we think that's not only good for the u.s. economy, we also think that's positive for the global economy. >> have you weighed in in washington? did the leaders know your view on things? >> yeah, i think you saw that at the business round table that i participated in that group there was a lot of coverage of it the last day or two. the position we've taken in borrowing your byline, this is a time for legislation, not for vacation. and it is critical that we get this compromise done. it's not about declaring winners and losers, it's about finding a solution for the united states which is good for employees and is good for retirees. it's good for investment and takes care of the unemployed. that can be done. we've done this before. we believe that we need to all bring our pressure and our support to our elected officials to get that deal done before year end. >> do you think that there's any real commitment to cutting spending by the president? >> i believe that all t
compromise that's going to allow us to avoid the fiscal cliff? and if that's true, we think that's not only good for the u.s. economy, we also think that's positive for the global economy. >> have you weighed in in washington? did the leaders know your view on things? >> yeah, i think you saw that at the business round table that i participated in that group there was a lot of coverage of it the last day or two. the position we've taken in borrowing your byline, this is a time for...
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. >> the fiscal cliff stalemate remains. >> the standoff continues. there isn't a lot of reason for hope. >> democrats and republicans are blaming each other for the stalled negotiations. >> who's going to blink sglirs what's going to blink first. >> the white house is daring republicans literally to blink. (laughter) >> stephen: obama is daring republicans literally to blink. well, the joke's on him! (laughter) because i know some republicans who had their eyelids surgically removed. (laughter) (cheers and applause) now obama won't budge off his calls for $1.6 trillion in new tax revenue over the coming decade, mostly from increasing tax rates and taxes on upper-bracket earners. folks, that's just punishing our nation's job creators. america's billionaires are the engine that drives our economy through smart investments! and occasionally through dumb ones. (laughter) today house speaker john boehner struck back with his plan to cut spending by demanding obama come up with boehner's plan to cut spending. (laughter) >> a lot of people know that the pre
. >> the fiscal cliff stalemate remains. >> the standoff continues. there isn't a lot of reason for hope. >> democrats and republicans are blaming each other for the stalled negotiations. >> who's going to blink sglirs what's going to blink first. >> the white house is daring republicans literally to blink. (laughter) >> stephen: obama is daring republicans literally to blink. well, the joke's on him! (laughter) because i know some republicans who had their...
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negotiations for the fiscal cliff continue in washington. house members spoke about the issue today on a resolution that would allow the house to take up measures through december 28. this is just over an hour. on. the speaker pro tempore: the gentleman from texas is recognized for one hour. mr. sessions: thank you very much, mr. speaker. for the purpose of debate only, i yield theustomary 30 minutes to the gentlewoman from fair point, new york, my dear friend, the ranking member on the committee, ms. slaughter, pending which i yield myself such time as i may consume. the speaker pro tempore: the gentleman is recognized. mr. sessions: thank you very much. during consideration of this resolution, all time is yielded for the purpose of debate only. mr. speaker, i ask unanimous consent that all members may have five legislative days to revise and extend their remarks. the speaker pro tempore: without objection. mr. sessions: i rise today in support of thisule which will provide this body the ability to consider legislation under suspension of t
negotiations for the fiscal cliff continue in washington. house members spoke about the issue today on a resolution that would allow the house to take up measures through december 28. this is just over an hour. on. the speaker pro tempore: the gentleman from texas is recognized for one hour. mr. sessions: thank you very much, mr. speaker. for the purpose of debate only, i yield theustomary 30 minutes to the gentlewoman from fair point, new york, my dear friend, the ranking member on the...
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the fiscal cliff is a pothole relative to the size of our government. the our problem is a spending problem, principally driven by entitlement spending growing at 6%, 7%, 8%. now i'm fearful under the president's economic policy, the new norm is 1.5% to 2% gdp growth. that math doesn't add up. >> that's the thing. if that was the new norm, if i were in there, i wouldn't want to raise taxes but i get your point. you're going to run the financial services committee, an extremely important post. just in brief, sir, i'm sure you've thought about dodd-frank. i just want to get your basic take. what does dodd-frank mean to the financial system and to the economy as you see it, as you ascend to this position of chairman? >> well, i think the regulatory burden is huge and what dodd-frank has done is, number one, not addressed the true route of the financial crisis of '08, which was a lot of federal policies, frankly, that con joeled and mandated financial institutions to loan money to people to buy homes that ultimately they couldn't afford to keep. i know they
the fiscal cliff is a pothole relative to the size of our government. the our problem is a spending problem, principally driven by entitlement spending growing at 6%, 7%, 8%. now i'm fearful under the president's economic policy, the new norm is 1.5% to 2% gdp growth. that math doesn't add up. >> that's the thing. if that was the new norm, if i were in there, i wouldn't want to raise taxes but i get your point. you're going to run the financial services committee, an extremely important...
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impending fiscal cliff. the democrats continue to portray the g.o.p. as the grinch. who wants to steal not christmas but a middle class tax cut. tonight, charges and countercharges from chief white house correspondent ed henry. >> officials now say speaker john boehner's phone call to president obama was tense, hopes of a possible deal seem to be fading fast. >> i remain the most optimistic person in this town, but we've got some serious differences. >> the biggest difference is over taxes. republicans complain in an interview with abc news the president made it harder for boehner to sell compromise to republicans by saying the only way to go forward is for the speaker to cave. >> i'm confident republicans would not hold middle class taxes hostage to try to protect the tax cuts for high-income individuals. >> white house officials today incested the president was merely reiterating a long-held position and said the hold up is the republicans failing to get specific about taxes. >> closing loopholeles they wi
impending fiscal cliff. the democrats continue to portray the g.o.p. as the grinch. who wants to steal not christmas but a middle class tax cut. tonight, charges and countercharges from chief white house correspondent ed henry. >> officials now say speaker john boehner's phone call to president obama was tense, hopes of a possible deal seem to be fading fast. >> i remain the most optimistic person in this town, but we've got some serious differences. >> the biggest difference...
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she was talking about about solutions to avert the fiscal cliff. if if you look at how we got here, nothing gets resolved out of washington, it's an abyss that doesn't need to happen. if you just go back and look at the promises made by poth because massachusetts when he was running for office, when he was running for re-election, he talked about working across the aisle he talked about bipartisan solutions he talked about it a lot and the american people expected that the president would keep that promise. but before the ink was even dry, before some of the states had confirmed and finalized their vote totals for this last election, the president comes out with a hyper partisan solution that's his approach. when the president comes out with his plan to raise taxes on some, not renew ores, to threaten middle class families with a tax increase if some people don't get their taxes raised, there already was a bipartisan solution to avert this cliff. just a few months ago, here in this house, we passed a bill with 19 democrat votes. a strong bipartisan
she was talking about about solutions to avert the fiscal cliff. if if you look at how we got here, nothing gets resolved out of washington, it's an abyss that doesn't need to happen. if you just go back and look at the promises made by poth because massachusetts when he was running for office, when he was running for re-election, he talked about working across the aisle he talked about bipartisan solutions he talked about it a lot and the american people expected that the president would keep...
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. >>> as fiscal cliff talks here in washington are showing little movement towards a deal, there's now a new report that president obama may be willing to put raising the eligibility age for medicare on the table. is that true? we will discuss more this more in our strategy. can i help you? i heard you guys can ship ground for less than the ups store. that's right. i've learned the only way to get a holiday deal is to camp out. you know we've been open all night. is this a trick to get my spot? [ male announcer ] break from the holiday stress. save on ground shipping at fedex office. welcome to chevy's year-end event. so, the 5.3-liter v8 silverado can tow up to 9,600 pounds? 315 horsepower. what's that in reindeer-power? [ laughs ] [ pencil scratches ] [ male announcer ] chevy's giving more. get the best offer of the year -- 0% apr financing for 60 months plus $1,000 holiday bonus cash. plus trade up for an additional $1,000 trade-in allowance. hurry. bonus cash ends january 2nd. humans -- sometimes life trips us up. and sometimes, we trip ourselves up, but that's okay. at liberty mut
. >>> as fiscal cliff talks here in washington are showing little movement towards a deal, there's now a new report that president obama may be willing to put raising the eligibility age for medicare on the table. is that true? we will discuss more this more in our strategy. can i help you? i heard you guys can ship ground for less than the ups store. that's right. i've learned the only way to get a holiday deal is to camp out. you know we've been open all night. is this a trick to get...
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the fiscal cliff. they could be, working all this out behind-the-scenes and will tell us later. they could be. maybe the threat of working through the holidays will get them on the move? that is coming up. and a possibly breakthrough in the high profile murder case that cops call a "hit" job. police now have the get away car. but what about the driver? nounc] you like who you are... and you learned something along the way. this is the age of knowing what you're made of. so, why let erectile dysfunction get in your way? talk to your doctor about viagra. 20 million men already have. ask if your heart is healthy enough for sex. do not take viagra if you take nitrates for chest pain; it may cause an unsafe drop in blood pressure. side effects include headache, flushing, upset stomach, and abnormal vision. to avoid long-term injury, seek immediate medical help for an erection lasting more than four hours. stop taking viagra and call your doctor right away if you experience a sudden decrease or loss in visio
the fiscal cliff. they could be, working all this out behind-the-scenes and will tell us later. they could be. maybe the threat of working through the holidays will get them on the move? that is coming up. and a possibly breakthrough in the high profile murder case that cops call a "hit" job. police now have the get away car. but what about the driver? nounc] you like who you are... and you learned something along the way. this is the age of knowing what you're made of. so, why let...
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so, sandra, if we hit this fiscal cliff, all the spending cuts kick in, what effect will that have on air travel? >> reporter: the big unknown is still how it will affect the everyday traveler. and that is certainly something a lot of people here are wanting to figure out. as for the air traffic controllers union, they released a statement this afternoon saying that it would be a major blow to the airline industry as well as the economy if these cuts are in effect. now, overall, we're talking about a nearly $2.2 billion projected cut to the department of transportation. half of that would come from the faa, and the tsa would suffer a $643 million spending cut. so according to the head of the tsa, they do have a plan b. they have a plan in place ready to go if these cuts are in place. now, he says that the overall front line operations would not be effective, but this would be a major severe budget cut and a lot of travelers here we spoke to, brooke, say they are paying close attention to the negotiations. >> it does concern me because, yes, i do travel not extensively, but enough on m
so, sandra, if we hit this fiscal cliff, all the spending cuts kick in, what effect will that have on air travel? >> reporter: the big unknown is still how it will affect the everyday traveler. and that is certainly something a lot of people here are wanting to figure out. as for the air traffic controllers union, they released a statement this afternoon saying that it would be a major blow to the airline industry as well as the economy if these cuts are in effect. now, overall, we're...
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. >>> still a stalemate over the fiscal cliff on capitol hill. house speaker baner making comments earlier. meanwhile, a new poll out today on the cliff, economy and our leaders in washington. john harwood live at the wlous with more on that, john, over to you. >> reporter: sue, we will have full details tonight after 6:30 p.m. but for now, we've got one early release question which the results will not come as a surprise to anybody on our network because the desire by the public for law makers in washington to make a deal is very strong. when we ask people, do you want both sides to compromise on their positions, even if that means cuts in social security and higher taxes, or do you want them to stick to their position, 65% of the american people say they want both parties to compromise only 28% say stick to your positions. that is very consistent with the desire on wall street. and it is on main street as well, to get something done. and as you mentioned, sue, there has not been much external signs of a deal. though we did have an exchange of o
. >>> still a stalemate over the fiscal cliff on capitol hill. house speaker baner making comments earlier. meanwhile, a new poll out today on the cliff, economy and our leaders in washington. john harwood live at the wlous with more on that, john, over to you. >> reporter: sue, we will have full details tonight after 6:30 p.m. but for now, we've got one early release question which the results will not come as a surprise to anybody on our network because the desire by the public...
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back on to the issue of the fiscal cliff. the "washington journal" has been throughout the last couple of weeks focusing on specific elements of the issue. this morning focusing on social security and how congressional leaders plan to handle social security as part of the fiscal cliff talks. first up here on overview from a capitol hill reporter on social security. >> here to talk about the prop program and how it is involved in these discussions. steven joining us from the associated press where he's a reporter. thank you for being here. how many people in america receive social security and how much do they get? guest: a little bit more than 56 million people get social security and the average benefit is a little over $12,000 -- let's see, a little over $1,200 a month. so maybe it's like $13,000, $14,000 a year. host: and we're talking about retirees. also, though, the disabled. guest: yes, yes. actually we have a fairly wide group of people get social security benefits. retired workers, spouses, children, disabled workers
back on to the issue of the fiscal cliff. the "washington journal" has been throughout the last couple of weeks focusing on specific elements of the issue. this morning focusing on social security and how congressional leaders plan to handle social security as part of the fiscal cliff talks. first up here on overview from a capitol hill reporter on social security. >> here to talk about the prop program and how it is involved in these discussions. steven joining us from the...
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everyone in washington is talking about the fiscal cliff and the tax increases that might come from that. but today i want to talk about something different. those are the tax increases that are coming regardless of what happens with the fiscal cliff. and those are the tax hikes that we're seeing because of president obama's health care law. people who have been following this closely know that president obama's health care law guarantees that middle-class families will pay higher taxes. the president promised repea repeatedly that he would not raise taxes on the middle class. as a matter of fact he said -- quote -- "if you're a family making less than $200,00200,000a year, my plan won't raise your taxes one opiniony. not your income taxes, not your payroll taxes, not your capital gains taxes, not any of your taxes." that's what the president said. but once he got into office, president obama arranged for his health care plan to be written behind closed doors. democrats in congress passed it, and they did it strictly along party lines. this law has included more than 20 different tax inc
everyone in washington is talking about the fiscal cliff and the tax increases that might come from that. but today i want to talk about something different. those are the tax increases that are coming regardless of what happens with the fiscal cliff. and those are the tax hikes that we're seeing because of president obama's health care law. people who have been following this closely know that president obama's health care law guarantees that middle-class families will pay higher taxes. the...
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what are your latest thoughts on the fiscal cliff clavin as we call it? >> well, i think we have a lot to learn from what i would call the fiscal spliff from washington state. legalization of marijuana adds to the state's coffers or costs the federal government an equal amount of money to police it from a distance, that's going to be the curious one. so far as the fiscal cliff the dumbest thing -- the republicans are in a situation where you know they're giving two pages of -- we want this. remember, we just -- they're torn out like perforated from the paul ryan plan. they bring them in. okay, tomorrow we'll come back with more. these are the same pages only they have -- is that bourbon on them? >> stephanie: bourbon and cheeto stains on them. >> the truth is -- i think charlie pierce touched on it before. the dumb thing is that they don't immediately go for the middle class tax cuts and let those go through. but they can't give any ground and that, i think proves that boehner can't deliver the votes necessary to get anything through. >> stephanie: right.
what are your latest thoughts on the fiscal cliff clavin as we call it? >> well, i think we have a lot to learn from what i would call the fiscal spliff from washington state. legalization of marijuana adds to the state's coffers or costs the federal government an equal amount of money to police it from a distance, that's going to be the curious one. so far as the fiscal cliff the dumbest thing -- the republicans are in a situation where you know they're giving two pages of -- we want...
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jon: the fiscal cliff talk is ticking less than three week to go to hammer out a deal before automatic spending cuts and kick in. house speaker boehner has made it clear republicans are staying in washington before and after christmas to solve the crisis as the president pushes his plan with bipartisan group of mayors and community leaders. chief congressional correspondent mike emanuel live on capitol hill. we had slight movement on the fiscal cliff negotiations, mike, but it doesn't really sound like they're close to a deal, huh? >> reporter: that's right, jon. president obama reduced his new revenue demand from $1.6 trillion over 10 years to $1.4 trillion over 10 years. house speaker john boehner says he is the most optimistic guy in washington but serious differences remain and the republicans may not feel like they have a whole lot of leverage in the negotiations with a democrat in the white house and democrat controlling the senate but they are threatening when it comes to the calendar. take a listen. >> the president seems to be walking you ever so slowly towards the cliff. we'v
jon: the fiscal cliff talk is ticking less than three week to go to hammer out a deal before automatic spending cuts and kick in. house speaker boehner has made it clear republicans are staying in washington before and after christmas to solve the crisis as the president pushes his plan with bipartisan group of mayors and community leaders. chief congressional correspondent mike emanuel live on capitol hill. we had slight movement on the fiscal cliff negotiations, mike, but it doesn't really...
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cliff talks. it could include an overhaul of the corporate tax code. with reaction, let's bring in congresswoman loretta sanchez. she is from the beautiful state of california. congresswoman, good to see you. are you on board with this? >> well, i will have to see the moving pieces before i make a decision on things. certainly, i always thought that if we could, we would put in corporate tax rates, not individual rates. we will see. we will see if the president and speaker boehner can come up with a deal. and, secondly, if speaker boehner has enough votes to have enough people vote for it. dagen: we have heard from senator harry reid once again. if the democrats do not get the tax increase on wealthy americans that he is willing to go over the cliff, the end of the year. we are awfully close. >> remember that congress always has the ability to set a new set of tax rates. even if we went through december 31 and these rates went away and everybody's taxes increased, honestly, some more than others,
cliff talks. it could include an overhaul of the corporate tax code. with reaction, let's bring in congresswoman loretta sanchez. she is from the beautiful state of california. congresswoman, good to see you. are you on board with this? >> well, i will have to see the moving pieces before i make a decision on things. certainly, i always thought that if we could, we would put in corporate tax rates, not individual rates. we will see. we will see if the president and speaker boehner can...
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also late news about the fiscal cliff. a new abc washington /washington post survey saying 49 percent approval obamas handling talks to avoid the so-called fiscal quick, while only 125% of for woodhouse speaker john boehner has handled the negotiations. >> they are still at a standstill. >> thank you james yad hoo e-mail services have gotten a makeover. the new read that in boxes are user friendly. it is the company's attempt to regain some of the ground lost to globoogle . ya hoo new see all mariss mzyer is trying to give people more reason to use the company's on-line service and stick around longer. she played a key role in g male when she worked at google. the world's top e-mail service. >> coming up we will have our financial asked bird robb black. we are talking about a company called the number one spot to avoid. we will tell you why t g i friday is excited about servicing the end of the world. coming up as the kron 4 news continues traffic in san jose. 101 north bounds traffic backed up that the interchange. we are
also late news about the fiscal cliff. a new abc washington /washington post survey saying 49 percent approval obamas handling talks to avoid the so-called fiscal quick, while only 125% of for woodhouse speaker john boehner has handled the negotiations. >> they are still at a standstill. >> thank you james yad hoo e-mail services have gotten a makeover. the new read that in boxes are user friendly. it is the company's attempt to regain some of the ground lost to globoogle . ya hoo...